Bank of Canada Governor Stephen S. Poloz suggested unemployed young workers should work for free in order to build up their resumes.
Poloz voiced his opinions during a speech on youth unemployment to the House of Commons Standing Committee of Finance on Tuesday.
“Volunteer to do something that is at least somewhat related to your expertise set, so it’s clear that you are gaining some learning experience during that period,” Poloz said.
The unemployment rate among young Canadians between the age of 15 and 24 is 13.5 per cent nationwide. But the situation worsens in Ontario where an estimated 16 to 17.1 per cent of young people currently don’t have jobs. The number goes even higher to 18 per cent in Toronto.
Poloz’s remarks has drawn the ire of many on social media.
The Bank of Canada, unable* to create a tight labour market, gives up & tells young workers to give their labour away http://t.co/6w8nxQS0cB
— John Michael McGrath (@jm_mcgrath) November 4, 2014
Guess how much the Bank of Canada governor makes each year. Anyway, he wants unemployed youth to work for free. http://t.co/PoF1dAQkGt
— ishmael n. daro (@iD4RO) November 4, 2014